Nigeria Central Bank Moves to Rein In Fintech, Boost Access to Capital

Nigeria is tightening scrutiny of its fast-growing fintech industry while easing licensing and improving access to capital as it tries to balance innovation with financial stability.

The Central Bank of Nigeria this week laid out an 18-month roadmap to modernize fintech regulation through open-banking rules that let customers move data more easily, supporting cross-border expansion, and better technology to monitor the industry.